Stock market today: Dow, S&P 500, Nasdaq slip with flood of earnings ahead
Published On Oct 21, 2024, 9:58 AM
US markets fell slightly on Monday as investors prepared for a busy earnings week. The S&P 500 decreased nearly 0.3%, the Dow Jones fell about 0.5%, and the Nasdaq slipped 0.2%. Major stocks like Nvidia and Apple performed well, with Nvidia even hitting an intraday record. Investors are particularly focused on upcoming earnings reports, especially from Tesla, which is due on Wednesday after disappointing news regarding its robotaxi plans. Other notable companies reporting include General Motors, Coca-Cola, and UPS. Boeing's stock rose 4.5% following news of a tentative labor deal with striking workers, though the company is also expected to report a loss in its upcoming earnings.
Stock Forecasts
BA
Neutral
Boeing has agreed to a tentative labor deal which may relieve some operational uncertainty, yet the expected loss in earnings could continue to weigh on investor sentiment. Despite some analysts projecting a price increase in the next year due to the resolution of the strike, the immediate reaction may see volatility based on earnings results.
TSLA
Negative
Tesla's performance will be critical to watch after its robotaxi unveiling did not meet investor expectations. Given the anticipation and ongoing scrutiny of profitability and growth in electric vehicles, the stock may be under pressure post-earnings if results do not impress.
NVDA
Positive
Nvidia's consistent performance and the rise in AI-driven sectors suggest continued investor confidence. If market conditions remain steady and the demand for AI products continues to grow, Nvidia's stock is likely to maintain a positive trajectory.
AAPL
Positive
Apple continues to show strength with slight gains and hovering near record highs. With strong year-to-date performance, investor sentiment is projected to remain bullish unless macroeconomic factors severely impact technology stocks.
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